My Trading strategy for Nifty and Bank Nifty Futures trading on 5th, Jan., 2021
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 14185 and 13970.
Buy if the candle closes above 14185 and indicator is above 60, keep stop loss lowest low of the previous 4 candles, book profit 20 points.
Sell if the candle closes below 13970 and indicator is below 30, keep stop loss highest high of the previous 4 candles, book profit 20 points.
Please note: No trade if the price is with in the two lines. If open price is out site the line wait the price to come in side and break the line.
Bank Nifty
Draw Two horizontal lines on the 5m candle stick chart, at 31540 and 31130.
Buy if the candle closes above 31540 and indicator is above 60, keep stop loss lowest low of the previous 4 candles, book profit 100 points.
Sell if the candle closes below 31130 and indicator is below 30, keep stop loss highest high of the previous 4 candles, book profit 100 points.
Please note: No trade if the price is with in the two lines. If open price is out site the line wait the price to come in side and break the line.
The following data may help the traders to take some trading ideas for the next few days.
Bullish Stocks as per my scanner
SWSOLAR CUMMINSIND VBL AMARAJABAT DLF MGL CENTURYTEX TATACHEM VIPIND BSOFT VOLTAS HEG NAUKRI HINDUNILVR SUNPHARMA LICHSGFIN HAVELLS |
Bearish Stocks as per my scanner
GRANULES AWHCL |
My List of Stocks to Watch for short term Trading .
POLYCAB ASHOKLEY SBICARD CHOLAFIN TATASTEEL MUTHOOTFIN HINDALCO OFSS CONCOR HEROMOTOCO VGUARD VBL AMARAJABAT ICICIPRULI |